Personal Luxury Goods Market Size, Share, Trends, Analysis and Forecasts To 2021
Market Research analysts forecast the global personal luxury goods market to grow at a CAGR of 3.71% during the period 2017-2021.
According to the report, one of the major drivers for this market is rising tourist spending. Luxury tourism spending has been one of the major growth contributors in the market. At a global level, the US and European countries are considered to be the major destinations for luxury tourism. The non-availability of many luxury products and brands or the high prices of the available ones in their home regions drive many South and Central American and Asian customers to European countries.
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Further, the report states that one of the major factors hindering the growth of this market is presence of counterfeit products. With the growing demand for leather fashion products, manufacturers are finding difficulty in dealing with counterfeit products. Counterfeit products not only affect the actual brands in terms of revenue, but also negatively affect the goodwill of original brands.
About Personal Luxury Goods
The global personal luxury goods market has been registering positive growth over the last few years and is shaping up to become one of the top competitive markets at a global level. With the rise in globalization, ample growth opportunities are being created in the market.
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Covered in this report
The report covers the present scenario and the growth prospects of the global personal luxury goods market for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of personal luxury goods to individual customers. The market is divided into the following segments based on geography: Americas APAC Europe
MEA Global Personal Luxury Goods Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. Key vendors Este Lauder L'Oral Luxottica LVMH Richemont The Swatch Group
Other prominent vendors BURBERRY BREITLING CHANEL COACH Giorgio Armani Kate Spade Kering Nina Ricci PRADA Tiffany Valentino Fashion Group Herms Ralph Lauren VF Corporation
Market driver Rising tourist spending For a full, detailed list, view our report Market challenge Presence of counterfeit products For a full, detailed list, view our report Market trend Omni-channel distribution For a full, detailed list, view our report Key questions answered in this report What will the market size be in 2021 and what will the growth rate be? What are the key market trends? What is driving this market?
What are the challenges to market growth? Who are the key vendors in this market space? What are the market opportunities and threats faced by the key vendors? What are the strengths and weaknesses of the key vendors? You can request one free hour of our analyst s time when you purchase this market report. Details are provided within the report.
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